Bloomberg Bank of America Corp. (BofA) is poised to boost bonuses for many of its bond traders and trim payouts for those handling stocks, people with knowledge of the matter said. The combined compensation pool will drop significantly, though fewer workers will divvy the rewards. Senior executives have earmarked as much as 10 percent more to pay the fixed-income ...

  Bloomberg No wonder Germany is on the warpath against a proposed global standard for how banks calculate the capital they need: Its largest lenders rank among the worst when it comes to how they assess risk. That means Deutsche Bank AG and Commerzbank AG will be affected more than most big lenders and may have to raise additional capital, ...

  Reuters Bitcoin plunged another 12 percent after China’s central bank urged investors to take a rational approach to the digital currency, which has is on track for its heaviest two-day falls in two years. Bitcoin had gained more than 40 percent in two weeks to hit a three-year high of $1,139.89 on Wednesday, just shy of its all-time record ...

  Bloomberg Goldman Sachs Group Inc. banker Jim Donovan is the front-runner to be President-elect Donald Trump’s pick for undersecretary of domestic finance, according to a person familiar with the decision. He’d be the fourth appointee with close ties to the investment bank tapped to serve in the administration. If chosen and confirmed, he would be responsible for coordinating policies ...

  Bloomberg The promise of production cuts from OPEC and its partners sent oil rallying in 2016. Now traders want proof they’re delivering on those vows. It won’t come easy. The challenge: Building a coherent picture from the morass of data that emerges at each step along the process, from the wellheads where the oil is produced, to the tankers ...

  Bloomberg Colder-than-normal weather in Europe may this month bring snow to the region’s pistes and increase energy demand and prices. High pressure will keep temperatures below normal levels, particularly in eastern Europe, according to seven forecasters surveyed by Bloomberg News. Europe’s popular ski resorts in the Alps will have “significant” snowfall after a drought in December, according to Tyler ...

  Bloomberg Statoil ASA, one of many international oil companies to slash spending during crude’s collapse, is increasing exploration for the first time since 2013 as cost cuts and lower fees from squeezed suppliers allow it to get more work done for less. Statoil plans about 30 exploration wells as an operator or partner in 2017, up from 23 last ...

  Bloomberg The Canadian government says it won’t grant extensions to exploration licenses for Exxon Mobil Corp., BP Plc and other oil firms as it prepares for consultations over the impact of an Arctic drilling moratorium. The companies hold leases that expire over the next six years, totaling C$1.9 billion ($1.4 billion) in bids. Prime Minister Justin Trudeau and U.S. ...

  Bloomberg India’s plans to sell the government’s stake in several poorly performing companies have prompted trade union threats of a nationwide strike, laying out a test for Prime Minister Narendra Modi in the lead up to crucial state elections. With thousands of jobs potentially at risk, the government’s decision to offload a number of companies to the private sector ...

  Bloomberg Baidu Inc. and state-owned Beijing Automotive Group Co.’s collaboration on telematics and autonomous driving is almost ready for its coming-out moment, as industry and government join hands for a self-driving vehicle push within China. A BAIC-built model equipped with Baidu tech will debut in April at the Shanghai auto show, BAIC Chairman Xu Heyi said in interview Friday ...